Yesterday's setbacks have formed a long black candlestick pattern but the bearishness stopped at the middle line of Keltner channel meeting 50% Fibonacci retracement of the entire upside wave from 0.8565 to 0.9590 zones. The technical situation isn't clear and thus, we will stay aside over intraday basis as a break below the current levels will confirm the negative sign on Stochastic; whilst taking 0.9145 will bring the positive picture back into focus.
The trading range for today is among key support at 0.8925 and key resistance at 0.9260.
The general trend over short term basis is to the upside, targeting 0.9950 as far as areas of 0.8850 remain intact.
|Recommendation||Based on the charts and explanations above our opinion is, staying aside until an actionable setup presents itself to pinpoint the upcoming big move.|